The Accelerator’s approach is to use AngelList as a backstop after the Demo Day for more intros if you still want them.
AngelList is one source of capital from a community of Angels. We are still developing our opinion on AngelList and how to best use them. Some of our founders have closed angel checks early on through AngelList , and sing its praises. Most, however, find Angellist to be helpful with closing out rounds once momentum has been built. Some dislike Angellist because it can taint a company relative to the payoff -- everyone can view your profile, it signals that you are available / looking for money vs “in demand,” and may associate you with lower quality companies on the site.
Here are some data points for calibration. A Class I company was profiled on Angellist as a “featured company”. 3,715 people received an email about the company. 1,287 visited their profile page. 24 people followed them. 10 introduction requests were received by the company. 5 of these were angels. 3 were VC’s. 2 were entrepreneurs.
A Class IV Company got two quick checks by posting on Angellist early in the program, with a marquis team, no product, and well marketed Angellist page.